By Tom Burnett, CFA
On January 10, 2020, the Bureau of Labor Statistics issued its monthly employment data report for December 2019. Job growth came in at 145,000 and totals for October and November were revised down by a total of 14,000. After these revisions, job increases averaged 184,000 for the past three months. Total U.S. employment now stands at 158.8 million, up from 156.8 million at the end of 2018. The unemployment rate for the latest month was 3.5%, down from 4.0% in January 2019. Average hourly earnings rose $0.03 from the prior month to $28.32. On balance, there were no material surprises in the Jobs report as employment continues to grow at a positive, measured pace. The next report on the Employment Situation is scheduled for release on February 7, 2020.
Tom Burnett, CFA is Director of Research